June 22, 2021 9:40p
(WGTD)---Milwaukee developer Josh Jeffers says he knew that restoring the crumbling set of historic buildings that were once home to the Horlick Malted Milk Co. on Racine’s north side wouldn’t be easy. But so far, so good.
Jeffers presided Tuesday over the formal opening of the first building that’s been restored. It’s been modernized and turned into 60 apartments ranging in size from studio to three bedroom. The building has been dubbed the Arabella, named after William Horlick’s wife.
"This is the best-executed historic rehab that our company has ever done," Jeffers said. "I personally--usually--can find some little detail--something wrong--some missed opportunity. But in this case here with the Arabella, in all of its gothic-revival beauty, I can honestly say that our team truly knocked it out of the park," he said.
The apartments in the two-story building feature an industrial style with exposed brick and high ceilings. Nearly two-thirds have already been leased out.
Currently under construction is an 86-unit apartment building. Renovation projects on two more building are expected to begin toward the end of the year.
Eventually, Jeffers hopes to create a town square with commercial and office spaces.
The $100 million project is being called Belle City Square.
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